"In these difficult times, supporting entrepreneurship is a key prerequisite for maintaining economic stability and social cohesion," the CCCI said in their announcement.
The measures were announced in response to the destabilisation caused by the ongoing Middle East conflict.
Christodoulides stressed the importance of supporting the tourism sector, as one of the economy’s main pillars already experiencing the effects caused by regional unrest.
In its announcement, the CCCI points out that the expansion of the list of products with zero VAT and the continuation of the electricity subsidy for vulnerable groups contribute to containing the cost of living and maintaining purchasing power, which will also have a positive impact on the market.
The CCCI underlines the importance of the timely and flexible implementation of the measures, in order to ensure their effectiveness. At the same time, it expresses its readiness to cooperate closely with the government and all competent bodies to monitor the situation and promote additional interventions where deemed necessary.
(Source: CNA)
